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Energy group Viridian steps in with Eco Wind acquisition
1 May 2008
In Ireland, major energy group Viridian has bought wind farm developer Eco Wind Power from Treasury Holdings, a property company. The purchase price is undisclosed. The sale brings Viridian, which owns Northern Ireland Electricity, its first renewable generating assets. The Eco Wind Power portfolio comprises five operational wind farms totalling 24 MW, 80 MW of consented projects and a "substantial" pipeline of projects in development. Viridian's retail arm, Energia, will sell the power to its business customers in the all-island energy market. Energia already supplies green power from a range of wind farm contracts totalling 250 MW of capacity, in addition to conventional supplies from Viridian's two gas-fired power stations. Harry McCracken, executive director of Viridian, notes that the Eco Wind transaction brings the group's renewable contracts and asset development pipeline on the island of Ireland to over 550 MW. Energia expects to play a major role in achieving Ireland's 33% target through further power purchase agreements to independent developers and through the expansion of the group's wind assets portfolio, he says.
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